New Zealand star Charles Piutau is set for Bristol Bears in a huge £1m-a-year deal

And whilst teams can blast however much cash they want on two marquee players who sit outside of the £7.5m-a-year salary cap, Diamond fears that the million pound wages for in-coming full-back Piutau have bust the market.

Only just last week the Manchester club rejected a £750,000-a-year offer to sign controversial Australia full-back Israel Folau.

And no-nonsense Diamond told SunSport: "If I am honest, and I don't mind saying it, I think they are wrecking it.

All Blacks legend Dan Carter is the world's top-earner on £1.4m a year - but the World Cup winning fly-half is leaving French club Racing 92 this summer.

So Piutau will comfortably be the highest-paid player in Europe on Premiership footballer's wages of just under £20,000-a-week.

Diamond said: "Ultimately, it's not football where there is hundreds of millions coming in through TV rights.

"A lot of rugby clubs are losing money, we are losing a bit still, so we need to get that right and run it like a business.

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"Those wages do inflate things, but we have to be careful of as owners and people who run the clubs as every time money comes in through broadcasting rights, players' salaries go up.

"Of course players' salaries are important. They earn a lot of money, but the businesses have to be solvent for us to grow the sport. We spend the last in the competition by a mile. We still only get crowds of 5-6,000.

"We are spending more year on year and are trying to supplement that with our own youth. All the desire here for everyone is to be a top-four side in the next few years."

NZ full-back Charles Piutau, who has 15 caps, has played for Ulster and Wasps

"For me here, the role I do is multi-faceted. I have the director of rugby title, but some of the time I'm head cook and bottle-washer as well. You have to have all those skills about you, which most of the English coaches do.

"Whether that be Jim Mallinder, Dean Richards, John Kingston - whereas the southern hemisphere guys come in as head coaches from a system where everything is centrally controlled and financed.